TENNESSEE FORECLOSURE ACTIVITY DOWN 22 PERCENT IN APRIL

Foreclosure Activity Level Down 26 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 3,470 Tennessee properties in April, a 22 percent decline from the previous month, and 26 percent below the level reported for April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity in Tennessee declined in April and remained below the level reported one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Though unemployment recently reached 9.6 percent in Tennessee, temporary moratoriums on foreclosures have helped some strapped homeowners hold onto their homes while looking for work.”

 

Tennessee ranked 21st in the country in total properties with foreclosure filings for April. One in every 785 Tennessee housing units received a foreclosure filing during the month, the 24th highest state foreclosure rate in the nation.

 

Shelby County accounts for nearly half of state’s foreclosure activity in April

Shelby County led the state, reporting 1,410 properties with foreclosure filings for the month. Davidson County reported 257 properties with foreclosure filings, the state’s second highest county total. Knox County came in third highest, reporting 223 properties with foreclosure filings. Hamilton County came in fourth, documenting 157 properties with foreclosure filings, while the fifth highest total was in Rutherford County, where 129 properties with foreclosure filings were reported for the month.

 

Shelby County post state’s top foreclosure rate in April

Shelby County topped the list, with one in every 283 housing units receiving a foreclosure filing — 2.8 times the state average. Hardeman County had the second highest foreclosure rate, with one in every 333 housing units receiving a foreclosure filing — 2.4 times the state average. Trousdale County documented the third highest foreclosure rate, where one in every 338 housing units received a foreclosure filing during the month — 2.3 times the state average.

 

State a moderate contributor to nation’s foreclosure total in April

Tennessee accounted for 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

           Tennessee Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Tennessee

0

0

2,090

0

1,380

3,470

785

-21.51

-25.68

 

 

 

 

 

 

 

 

 

 

Anderson

0

0

11

0

16

27

1,263

12.50

-28.95

Bedford

0

0

7

0

11

18

959

-40.00

-33.33

Benton

0

0

2

0

2

4

2,247

0.00

-33.33

Bledsoe

0

0

1

0

2

3

1,800

-25.00

-25.00

Blount

0

0

17

0

0

17

3,083

-32.00

0.00

Bradley

0

0

22

0

20

42

976

7.69

-17.65

Campbell

0

0

8

0

14

22

868

120.00

46.67

Cannon

0

0

3

0

2

5

1,136

-44.44

-37.50

Carroll

0

0

2

0

3

5

2,712

-50.00

-72.22

Carter

0

0

5

0

6

11

2,477

-8.33

-8.33

Cheatham

0

0

16

0

8

24

650

-7.69

60.00

Chester

0

0

1

0

0

1

6,748

-87.50

-75.00

Claiborne

0

0

2

0

4

6

2,486

-33.33

-57.14

Clay

0

0

1

0

0

1

4,160

-50.00

-50.00

Cocke

0

0

3

0

4

7

2,364

-41.67

0.00

Coffee

0

0

7

0

9

16

1,428

-23.81

-11.11

Crockett

0

0

2

0

4

6

1,059

-14.29

50.00

Cumberland

0

0

2

0

11

13

1,858

30.00

-38.10

Davidson

0

0

147

0

110

257

1,085

-39.81

-48.70

Decatur

0

0

0

0

1

1

6,751

-75.00

-80.00

DeKalb

0

0

4

0

1

5

1,768

25.00

400.00

Dickson

0

0

10

0

6

16

1,244

33.33

23.08

Dyer

0

0

10

0

6

16

1,069

14.29

-23.81

Fayette

0

0

11

0

0

11

1,278

266.67

-38.89

Fentress

0

0

2

0

2

4

1,987

0.00

33.33

Franklin

0

0

5

0

5

10

1,882

25.00

-23.08

Gibson

0

0

18

0

17

35

642

94.44

12.90

Giles

0

0

4

0

4

8

1,716

14.29

-38.46

Grainger

0

0

8

0

4

12

852

71.43

33.33

Greene

0

0

11

0

9

20

1,532

-20.00

-35.48

Grundy

0

0

2

0

1

3

2,190

200.00

-25.00

Hamblen

0

0

17

0

24

41

644

70.83

127.78

Hamilton

0

0

71

0

86

157

948

-20.71

-41.42

Hancock

0

0

0

0

0

0

 n/a

 n/a

-100.00

Hardeman

0

0

6

0

28

34

333

325.00

70.00

Hardin

0

0

6

0

8

14

964

100.00

250.00

Hawkins

0

0

2

0

15

17

1,531

-10.53

-15.00

Haywood

0

0

2

0

3

5

1,703

66.67

-44.44

Henderson

0

0

4

0

4

8

1,510

33.33

-46.67

Henry

0

0

6

0

5

11

1,512

0.00

-8.33

Hickman

0

0

5

0

11

16

582

60.00

6.67

Houston

0

0

0

0

1

1

4,080

-66.67

0.00

Humphreys

0

0

2

0

3

5

1,791

25.00

150.00

Jackson

0

0

0

0

0

0

 n/a

-100.00

-100.00

Jefferson

0

0

12

0

9

21

1,055

-34.38

16.67

Johnson

0

0

1

0

1

2

4,252

-60.00

-33.33

Knox

0

0

74

0

149

223

868

-5.51

-0.89

Lake

0

0

2

0

0

2

1,381

0.00

100.00

Lauderdale

0

0

7

0

11

18

639

50.00

12.50

Lawrence

0

0

7

0

8

15

1,158

0.00

-11.76

Lewis

0

0

1

0

1

2

2,512

-50.00

-81.82

Lincoln

0

0

4

0

4

8

1,813

33.33

-27.27

Loudon

0

0

11

0

12

23

861

64.29

-25.81

Macon

0

0

4

0

1

5

1,892

-61.54

-64.29

Madison

0

0

22

0

14

36

1,187

-40.00

-47.83

Marion

0

0

2

0

0

2

6,701

-66.67

-86.67

Marshall

0

0

6

0

12

18

710

-18.18

-45.45

Maury

0

0

15

0

24

39

905

-11.36

25.81

McMinn

0

0

14

0

11

25

905

0.00

19.05

McNairy

0

0

0

0

1

1

11,752

-87.50

-91.67

Meigs

0

0

2

0

2

4

1,414

-33.33

-42.86

Monroe

0

0

5

0

13

18

1,044

-14.29

-50.00

Montgomery

0

0

30

0

24

54

1,231

3.85

-40.00

Moore

0

0

0

0

0

0

 n/a

 n/a

-100.00

Morgan

0

0

2

0

0

2

4,044

-33.33

-60.00

Obion

0

0

7

0

2

9

1,658

0.00

125.00

Overton

0

0

1

0

1

2

4787

100.00

0.00

Perry

0

0

0

0

0

0

 n/a

-100.00

-100.00

Pickett

0

0

0

0

0

0

 n/a

 n/a

 n/a

Polk

0

0

2

0

3

5

1,622

-28.57

25.00

Putnam

0

0

10

0

11

21

1,443

0.00

31.25

Rhea

0

0

3

0

13

16

857

60.00

45.45

Roane

0

0

10

0

5

15

1,641

-44.44

-42.31

Robertson

0

0

18

0

9

27

928

12.50

-28.95

Rutherford

0

0

77

0

52

129

766

-11.03

-30.65

Scott

0

0

2

0

0

2

4,658

-33.33

0.00

Sequatchie

0

0

3

0

5

8

650

-11.11

33.33

Sevier

0

0

42

0

48

90

475

-19.64

-3.23

Shelby

0

0

1,071

0

339

1,410

283

-30.92

-25.12

Smith

0

0

2

0

7

9

912

-10.00

-25.00

Stewart

0

0

2

0

0

2

3,154

-71.43

-50.00

Sullivan

0

0

18

0

1

19

3,873

11.76

58.33

Sumner

0

0

24

0

29

53

1,170

-41.11

-42.39

Tipton

0

0

29

0

0

29

795

70.59

-29.27

Trousdale

0

0

5

0

5

10

338

233.33

233.33

Unicoi

0

0

1

0

2

3

2,856

50.00

-25.00

Union

0

0

3

0

3

6

1,520

-14.29

-40.00

Van Buren

0

0

0

0

0

0

 n/a

-100.00

-100.00

Warren

0

0

3

0

12

15

1,160

-25.00

-11.76

Washington

0

0

14

0

19

33

1,603

-19.51

-17.50

Wayne

0

0

1

0

0

1

7,059

0.00

-50.00

Weakley

0

0

1

0

4

5

3,136

0.00

-64.29

White

0

0

3

0

6

9

1,183

-10.00

-25.00

Williamson

0

0

27

0

22

49

1,254

-2.00

-26.87

Wilson

0

0

25

0

15

40

1,064

-21.57

-39.39

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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